TransPecos Banks has gone live on Nymbus’ SmartLaunch solution to outsource the infrastructure and operations of its digital-only subsidiary brand, BankMD, reports Alex Hamilton of Fintech Futures, Finovate’s sister publication.
Nymbus will provide onboarding, internet banking, and mobile banking for BankMD, which was founded with the intention of serving medical professionals in the state of Texas.
“We are dedicated to creating specialized products and a service culture that meets physicians’ unique needs and demands,” said Dub Sutherland, vice president and secretary of TransPecos Financial Corporation.
Sutherland adds that Nymbus was the only technology partner which took on BankMD’s concept to “bring it to life.” SmartLaunch eliminated the need for the bank to undergo a technology transformation, he said.
SmartLaunch is a banking-as-a-service product provided by Nymbus to stand up banks in a short time. The vendor claims it can do so in just 90 days.
The process involves the outsourcing of a bank’s entire operations to a team working within Nymbus. The platform also utilizes Nymbus’ SmartCore banking system.
“Launching a niche, standalone digital experience has gained tremendous momentum as an opportunity for financial institutions to compete and grow revenue,” said David Mitchell, president of Nymbus.
Other users of the Nymbus SmartLaunch platform include Centier Bank and Pacific National Bank.
NYMBUS, which demoed at FinovateFall last month, also offers a SmartBanking product that includes solutions focused on core, marketing, digital, payments, and services. Since it was founded in 2015, the company has raised $33.4 million and made three acquisitions, including R.C. Olmstead, KMR, and Sharp BancSystems.